Google Dodges a $1.3 Billion Tax Bill
A court in Paris has ruled that Google parent Alphabet will not have to pay $1.3 billion in back taxes in France.
A court in Paris has ruled that Google parent Alphabet Inc. (GOOGL) - Get Report will not have to pay $1.3 billion in back taxes in France. The bill had originally been handed down to the internet company after they were accused of illegally routing sales in France through their offices in Ireland in an attempt to avoid paying higher corporate taxes.
The court ruled that Google did not have "permanent establishment" in France and, for that reason, the tax demand was not justified. France's Finance Ministry has two months to appeal the decision.
The court decision follows a record fine from the EU of $2.75 billion for abusing search dominance.
Watch More with TheStreet:
- Tesla CEO Elon Musk Is a Modern Day Michaelangelo, Shark Tank Star Kevin O'Leary Says
- Here Are the Biggest Pay-Per-View Boxing Matches in History
- Bitcoin is Bitten by the Bear
- This 23-Year-Old Ford Research Engineer Holds at Least 15 Patents
- Check Out These 10 Biggest Summer Movie Flops of All Time
